Uduk noted that SEC was presently undertaking various initiatives to make the capital market more user-friendly such that people could participate with ease, comfort and convenience.

”There is the added and all-important purpose of ensuring that the gains of your participation, be it dividends, proceeds from share sales/transfers accrue to you seamlessly, without sweat and in the shortest time possible.

”The purpose is also to ensure that investors do not fall victim to the antics of fraudsters who purport to be able to double any amount of money you make available to them as investment value.

”We want a deeper market and we believe that with these combinations, we will reduce the number of ponzi schemes coming up and reduce the number of investors putting their money into the schemes,” she said.

Ponzi scheme is prohibited by the provisions of Section 38(1) of the Investments and Securities Act (ISA) 2007.

It does not allow people that are not registered by SEC to collect money from the public.

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